Essential Utilities Inc. Stock Forecast
Green day on Thursday for Essential Utilities Inc. stock after gaining 1.70%
(Updated on May 30, 2024)
The Essential Utilities Inc. stock price gained 1.70% on the last trading day (Thursday, 30th May 2024), rising from $35.96 to $36.57. During the last trading day the stock fluctuated 1.47% from a day low at $36.10 to a day high of $36.63. The price has been going up and down for this period, and there has been a -7.18% loss for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 117 thousand more shares were traded than the day before. In total, 725 thousand shares were bought and sold for approximately $26.51 million.
The stock lies in the lower part of a wide and weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $36.01 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 8.46% during the next 3 months and, with a 90% probability hold a price between $39.06 and $43.47 at the end of this 3-month period.
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WTRG Signals & Forecast
A buy signal was issued from a pivot bottom point on Wednesday, May 29, 2024, and so far it has risen 1.70%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Essential Utilities Inc. stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $37.33 and $37.17. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Essential Utilities Inc. stock
Essential Utilities Inc. finds support from accumulated volume at $36.54 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.530 between high and low, or 1.47%. For the last week, the stock has had daily average volatility of 1.96%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (WTRG) For The Upcoming Trading Day Of Friday 31st
For the upcoming trading day on Friday, 31st we expect Essential Utilities Inc. to open at $36.43, and during the day (based on 14 day Average True Range), to move between $35.86 and $37.28, which gives a possible trading interval of +/-$0.712 (+/-1.95%) up or down from last closing price. If Essential Utilities Inc. takes out the full calculated possible swing range there will be an estimated 3.89% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $36.58 (0.03%) than the support at $36.54 (0.08%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Essential Utilities Inc. stock A Buy?
The Essential Utilities Inc. stock holds several negative signals and despite the positive trend, we believe Essential Utilities Inc. will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -1.353 Sell Candidate Unchanged
Predicted Opening Price for Essential Utilities Inc. of Friday, May 31, 2024
| Fair opening price May 31, 2024 | Current price |
|---|---|
| $36.43 ( 0.374%) | $36.57 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for WTRG
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 36.96 | 1.08 % | |
| R2 | 36.76 | 0.522 % | ||
| R1 | 36.64 | 0.180 % | ||
| Current price: | 36.57 | |||
| Support | S1 | 36.23 | -0.93 % | |
| S2 | 36.11 | -1.27 % | ||
| S3 | 35.90 | -1.82 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 38.78 | 6.04 % | |
| R2 | 38.67 | 5.74 % | ||
| R1 | 36.58 | 0.0273 % | ||
| Current price | 36.57 | |||
| Support | S1 | 36.54 | -0.0820% | |
| S2 | 36.47 | -0.273% | ||
| S3 | 36.00 | -1.56% |
WTRG Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 22, 2024 | May 09, 2024 | Jun 01, 2024 | $0.307 | 0.84% |
| 2 | Dec 12, 2023 | Feb 08, 2024 | Mar 01, 2024 | $0.307 | 0.88% |
| 3 | Oct 25, 2023 | Nov 09, 2023 | Dec 01, 2023 | $0.310 | 0.86% |
| 4 | Aug 01, 2023 | Aug 10, 2023 | Sep 01, 2023 | $0.307 | 0.84% |
| 5 | Feb 22, 2023 | May 11, 2023 | Jun 01, 2023 | $0.287 | 0.718% |
FAQ
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